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Tuesday, December 29, 2015

Las Vegas Real Estate Market is Stabilizing

"The median sales price of a single-family home in the Las Vegas area hasn't changed over the last three months and is currently at $220,000. Compared to 12-months ago, the Las Vegas real estate market is actually up by over 10%." 
The Las Vegas real estate housing market is starting to stabilize and is seeing less distress among the market. 
"So what's the big picture? The Las Vegas real estate local home prices are about halfway back to where they were during the height of our housing boom in 2006 where they peaked at $315,000, and far better than our lowest point when home prices bottomed out at $118,000 in early 2012. Yes, the Las Vegas real estate market has had some challenges in the past, but purchasing a home in Las Vegas still remains very affordable as compared the rest of the country and similar metros of the same size." 

Shawn & Kyle Cunningham
Cunningham Group at RE/MAX Advantage | 702-960-4819 Shawn | 702-960-4819 Kyle
Source: Market Watch

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